Our current Income Tax "Sys/tem" is broken and wrong. HR-25 is based on two years and 23 million dollars worth of broad-based research by respected economists at seven leading universities. In short, FairTax means JOBS. Americans take all of their paychecks home. A monthly prebate check untaxes low income Americans by reimbursing them in advance for the tax they will pay on the necessities of life, up to the poverty level.
FairTax eliminates the IRS and 72,000+ pages of code, rulings and regulations and the abuses inherent in this system. The $350+ BILLION we now spend on complying with the income tax system can be put to better use.
The FairTax is simple and transparent. No IRS in our personal financial lives.